The profit that we get from selling any property like a residential house, agricultural land or long term assets is called capital gains which is chargeable to tax. There are various schemes for saving tax on capital gains under section 54, 54C, 54B, 54F, 54D etc.
However, you will have to reinvest the capital gains in certain investment instruments before a specified period to get tax benefits under aforementioned sections. If you are planning to invest the capital gain amount only for a brief period of time, particularly to avail tax benefits, Capital Gains Account Schemes (CGAS) is the best choice.
IDBI Capital Gains Account Scheme will offer two deposit types to the investors - a savings account and a term deposit account. Also, a maximum of Rs. 100 crore can be deposited in IDBI CGAS making it the apt choice for all types of investors.
IDBI Capital Gain Account Scheme is offered to following entities.
The advantages of IDBI Capital Gains Account Scheme are given below.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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